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False Value Hardware began 2011 with a credit balance of $32,000 in the allowance for sales returns account. Sales and cash collections from customers during the year were $650,000 and $610,000, respectively. False Value estimates that 6% of all sales will be returned. During 2011, customers returned merchandise for credit of $28,000 to their accounts.?False Value's 2011 income statement would report net sales of?
we normally think of the arts as very different from technologies in spite of the fact that art with perhaps a few
Bob and Elizabeth, both 55 years old and married, sell their personal residence to Wolfgang in 2011. Wolfgang pays $660,000 and assumes their $90,000 mortgage. To make the sale they pay $20,000 in commissions and $10,000 in legal costs.
on july 1 2009 noble inc. issued 9 bonds in the face amount of 5000000 which mature on july 1 2015. the bonds were
in harley company it costs 30 per unit 19 variable and 11 fixed to make a product that normally sells for 41. a foreign
assume the facts in the preceding exercise except that zeile company has chosen not to accrue paid sick leave until
The Quick Stop is a fast food restaurant. During March. QuickStop recorded the following sales to customers and cost of doing business:
a company has a process that results in 6000 pounds of product a that can be sold for 8 per pound. an alternative would
what effect do stock dividends or stock splits have on the computation of the weighted-average number of shares
rustic interiors an interior design company has experienced a drop in business due to an increase in interest rates and
a company needs an increase in working capital of 13000 in a project that will last 4 years. the companys tax rate is
fairfax company uses weighted-average process costing to account for its production costs. direct labor is added evenly
aussie yarn co. is a u.s. producer of woolen yarn made from wool imported from australia. raw wool is processed spun
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